Further hits at Filo del Sol 'impress'

Filo Mining (TSXV: FIL) says its now-complete drilling programme at its Filo del Sol project not only points to a resource upgrade but also that drilling beyond the existing resource limit is warranted.

Staff reporter

Further hits at Filo del Sol 'impress'

Filo Mining (TSXV: FIL) says its now-complete drilling programme at its Filo del Sol project not only points to a resource upgrade but also that drilling beyond the existing resource limit is warranted.

A November preliminary economic assessment outlined capex of US$792 million for a 13-year mine producing about 50,000 tonnes of copper, 115,000 ounces of gold and more than 5 million ounces of silver annually.

Lundin said earlier this month Filo was pushing "full steam ahead" with the project and starting to look beyond the horizon of completing the PFS in early 2019.

The company raised C$25.5 million (US$19.9 millon) through a tandem equity raise in February and had just over $18 million (US$14 million) cash at the end of March.

Filo Mining shares closed unchanged yesterday at C$2.30, up from the $1.80 mark it was trading at in May last year.